Counting Inventory on the Warehouse Floor and Tracing the Count

question 79

Multiple Choice

Counting inventory on the warehouse floor and tracing the count to the inventory compilation provides evidence to support which management (PCAOB) assertion?

• A)Existence or occurrence.
• B)Completeness.
• C)Rights and obligations.
• D)Valuation or allocation.

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Definitions:

Truman

The 33rd President of the United States, Harry S. Truman, who served from 1945 to 1953, known for implementing the Marshall Plan to rebuild the economy of Western Europe, and for leading the country during the early stages of the Cold War.

United Nations Security Council

One of the six principal organs of the United Nations, charged with ensuring international peace and security, accepting new members, and approving any changes to its charter.

Allied Powers

A coalition of countries, typically referring to those that opposed the Axis Powers during World War II, including the United States, the United Kingdom, the Soviet Union, and others.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, dubbed the deadliest conflict in human history.